US Politics: Tariff Wars

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Sinbad said:
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Penguin delegation arrives in washington - ambassador voices his displeasure
 
The Voice said:
Don’t think it’s a bit off with all these countries bitching about US tariffs when they’ve been imposing tariffs on US imports for years? How can anyone not see the hypocrisy? Reduce your tariffs and Trump will do the same. Simple.
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Targeted limited tariffs are not the same as blanket tariffs.
 
OutlawJoseyWales said:
$20 million to Hillary Clinton for some bogus study or something. The whole world knows that is not right. Fraud or misuse of funds is the same thing at this point.
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If fraud = "things I dont understand" then doge might be onto something.

And hillary bad yes, it not like Trump does the same thing with taxpayer money all the time.
 
The_Right_Honourable_Brit said:
How is Trump going to get manufacturing jobs back when the current manufacturing jobs in America have a very different composition to the ones he wants to bring back?
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They don't even have enough available workers for a half-assed "industrial renaissance". Let alone a noteworthy one. Definitely not one where goods are affordable. Their employment figures are too good. Seriously. It's ****ing great. (not as great as when Biden was boss, but still good).

But yeah... Guessing the latter state of affairs will not last long.

And isn't that fun? People losing their jobs, by the millions, maybe a bit of famine, but have no fear - The plan is for there to be a noisy, dirty, dangerous, low paying heavy industrial factory job, ready and waiting, with their name on it. They can get the full 3rd world citizen experience. Maybe there will even be Nike factories for the kids. Maybe they can shine shoes. Yay for progress... And if they all work real hard, and suffer enough, for a handful of years to a dozen, or two, then they can look backwards and embrace life in the 50s. Except with an out of control online attention economy. And, not a benign classical Capitalist market, but rather full-blown psycho state capture late stage Neoliberalism.

They so lucky... :rolleyes: The MAGAs certainly are getting the dystopia they trolled so hard for.
 
MiW said:
Some basic economical facts Trump is missing


The relationship between the U.S. trade deficit and the dollar's status as a reserve currency is a complex economic concept. Here's a breakdown of why some economists argue that the U.S. needs a trade deficit for the dollar to maintain its position as the world's primary reserve currency:
1. Demand for Dollars in International Trade
  • The U.S. dollar is used globally for international trade, foreign exchange reserves, and as a benchmark for commodities like oil (priced in dollars). For the dollar to remain the dominant reserve currency, other countries need to hold large amounts of it.
  • A trade deficit occurs when the U.S. imports more goods and services than it exports, meaning foreign countries accumulate dollars as payment for those imports. These dollars are then often reinvested back into U.S. assets (like Treasury bonds) or held as reserves, reinforcing demand for the dollar.
2. The "Exorbitant Privilege"
  • The U.S. benefits from what French economist ValĂ©ry Giscard d’Estaing called the "exorbitant privilege." Because the dollar is the world’s reserve currency, the U.S. can run persistent trade deficits without facing the same constraints as other countries. Foreign governments and investors are willing to lend back to the U.S. by buying its debt, keeping interest rates low and funding further spending.
  • This system allows the U.S. to consume more than it produces, as long as the rest of the world is willing to hold dollars and U.S. assets.
3. Liquidity and Confidence
  • For the dollar to function as a reserve currency, there needs to be a steady supply of dollars in the global economy. A trade deficit helps create this liquidity. When the U.S. runs a deficit, it essentially exports dollars, which other countries use for trade, investment, or reserves.
  • If the U.S. were to eliminate its trade deficit and achieve a balance or surplus, it might reduce the global supply of dollars, potentially undermining confidence in the dollar’s availability and stability as a reserve currency.
4. Historical Context: Bretton Woods and Beyond
  • After World War II, the dollar was pegged to gold under the Bretton Woods system, and other currencies were pegged to the dollar. Even after the system ended in 1971, the dollar retained its status due to the strength of the U.S. economy, military, and financial markets.
  • The trade deficit grew as the U.S. became a consumer-driven economy, but this was offset by the willingness of countries (especially those with export-led economies like China) to hold dollars and U.S. debt, ensuring the dollar’s reserve status.
5. Counterarguments and Risks
  • Not everyone agrees that a trade deficit is necessary or sustainable for the dollar’s reserve status. Some argue that overreliance on deficits could lead to a loss of confidence if the U.S. accrues too much debt or if other currencies (like the euro or yuan) become viable alternatives.
  • Persistent deficits can also lead to domestic job losses in manufacturing and other trade-sensitive sectors, creating political and economic pressure to reduce them.
Conclusion
The U.S. trade deficit supports the dollar’s role as a reserve currency by ensuring a steady global supply of dollars and encouraging foreign holdings of U.S. assets. However, this arrangement is not without risks, and its long-term sustainability depends on the U.S. maintaining economic stability, political influence, and trust in its financial system. If you’re looking for more specific data or examples, let me know, and I can dig deeper!
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They don't even really have a trade deficit. Arms sales do not factor into that calculation for them. "National Security" :rolleyes: And they sell a beastly amount of arms. Other countries on the other hand, like the typical EU country, does factor in arms sales. Because they're not a bunch of gits.
 
MiW said:
https://twitter.com/x/status/1907508484851069235
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They all thought Trump would talk tariffs, but be careful with the stock market and the rest of their economy. Like during his first term. When he talked a big game, but he really didn't do ****. Just coasted on the trajectory left to him from the end of the previous administration. So they trolled along. Let the Trojan horse through the gate. Kissed the ring for campaign funding and endorsements. Thinking it would all be fine. That they are in control.

And are now too cowardly to speak up. To afraid they might be held to account for their foolishness, even if they were brave enough to stand up to targeting by political fanatics.

Many good lessons here. But mostly that you shouldn't vote for greedy dumb ****s.
 
The Trutherizer said:
They don't even have enough available workers for a half-assed "industrial renaissance". Let alone a noteworthy one. Definitely not one where goods are affordable. Their employment figures are too good. Seriously. It's ****ing great. (not as great as when Biden was boss, but still good).

But yeah... Guessing the latter state of affairs will not last long.

And isn't that fun? People losing their jobs, by the millions, maybe a bit of famine, but have no fear - The plan is for there to be a noisy, dirty, dangerous, low paying heavy industrial factory job, ready and waiting, with their name on it. They can get the full 3rd world citizen experience. Maybe there will even be Nike factories for the kids. Maybe they can shine shoes. Yay for progress... And if they all work real hard, and suffer enough, for a handful of years to a dozen, or two, then they can look backwards and embrace life in the 50s. Except with an out of control online attention economy. And, not a benign classical Capitalist market, but rather full-blown psycho state capture late stage Neoliberalism.

They so lucky... :rolleyes: The MAGAs certainly are getting the dystopia they trolled so hard for.
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Remember, no labour unions! We wouldn't 't want that socialism stuff like safe working environments, breaks, and vacation time getting in the way of reindustrialization. Fair working wage? Feh, $9 an hour should be more than enough!
 
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